Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency.
International Energy Agency
The International Energy Agency welcomed the oil market’s return to surplus as OPEC’s production surge swells global stockpiles and drives prices into a bear market.
U.S. fossil fuel consumption last year reached the lowest share in more than a century as use of renewable energy continued to climb and petroleum use remained well below its 2005 peak.
Crude edged lower amid predictions of a steep hike in U.S. crude output this year.
The International Energy Agency (IEA) has announced that it will reduce its estimate for UK oil production by 300kb/d for December in reaction to the Forties pipeline closure.
Growing demand for renewable energy in Sub-Saharan Africa should give continent a ‘huge boost’, said senior international energy official.
A new video by the International Energy Agency shows how the renewables market will develop and expand over the next several years.
The US looks set to become a global gas giant as demand increases from developing countries and across industrial sectors over the next five years, according to a new report.
Global oil demand should outpace supply in the second half of this year – but excess inventories are expected to persist well in to 2018 according to the International Energy Agency.
The amount of oil discovered globally dropped to a record low in 2016, according to the International Energy Agency (IEA).
Oil capped its third weekly gain after the International Energy Agency said production cuts have brought world markets “very close to balance” and should soon deplete stockpiles that rose in the first quarter.
New liquefied natural gas (LNG) supplies are coming online just as demand growth in some major markets weakens, resulting in a major reshaping of the global gas trade in the next five years.
Oil declined for a fourth day on concern recent gains were unsustainable, while shuttered Canadian operations started to reopen.
Oil price should return to $80 a barrel by 2020, according to the International Energy Agency (IEA).
Even after China’s slowing economy dragged crude to a six-year low, oil’s second-biggest consumer remains the main safeguard against a further price meltdown.
A former Schlumberger executive with extensive experience in technology and clean energy joined the International Energy Agency (IEA) this month as Director for Sustainable Energy Policy and Technology.
The new executive director of the International Energy Agency (IEA), ushering in a new era for the global energy authority.